A Statement of Partner's Equity Is the Same as a Statement

question 88

Multiple Choice

A statement of partner's equity is the same as a statement of owner's equity except:

• A) there is a capital account for each partner.
• B) net income is assigned to one partner.
• C) no additional investment by partners is shown on the statement.
• D) There is no difference in the statements.

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Definitions:

Events

Occurrences or happenings, especially significant ones, that take place in a specific time and setting.

Automatic Responses

Reactions that occur without conscious thought, often as a result of learned behaviors or instincts.

Predictor Of Happiness

A factor that is indicative or capable of forecasting the presence and level of an individual's happiness.

Affect Balance

The frequency of positive emotions minus the frequency of negative emotions